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Berkshire Hathaway has raised newly appointed chief executive Greg Abel’s annual salary to $25m, a stark contrast to Warren Buffett’s long-standing $100,000 salary. Mr. Abel, who took over as CEO on January 1st, previously served as vice chairman overseeing the conglomerate’s non-insurance businesses. His pay has steadily increased in recent years, reaching $21m in 2024. Abel also holds approximately $171m in Berkshire stock and sold his 1% stake in Berkshire Hathaway Energy to the company for $870m in 2022.

 

CNBC

Reuters

Wall Street Journal

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AIG has appointed insurance veteran Eric Andersen as its next chief executive as it prepares to take on more risk to fuel growth after dramatically paring back its operations since its near-collapse in the 2008 financial crisis. He will join the firm next month, and succeed Peter Zaffino upon his accession to the role of executive chair in June. The announcement comes after the company said in November that it would cancel the appointment of John Neal, the former chief executive of Lloyd’s of London, as president of AIG’s US group, citing "personal circumstances."

 

Bloomberg

Financial Times

Steve Phelps will resign as NASCAR Commissioner by the end of the month after controversial text messages disparaging Hall of Famer Richard Childress emerged during an antitrust trial. Sponsor Johnny Morris criticized Mr. Phelps for his lack of fairness, stating that such behaviour would jeopardize a sports commissioner's position. Mr. Phelps, who has been with NASCAR for over 20 years, expressed pride in his role and gratitude to colleagues and fans. NASCAR has no immediate plans for a replacement, with duties being redistributed among the executive leadership team.

 

Los Angeles Times

The Supreme Court has scheduled Friday as an opinion day - offering the first chance for a ruling on President Donald Trump’s global tariffs. The justices take the bench at 10:00 a.m. Bloomberg says a tariff decision is a possibility given the court’s expedited handling of the case to date. “We have a big Supreme Court case,” Trump told House Republicans Tuesday. “I hope they do what’s good for our country. I hope they do the right thing. The president has to be able to wheel and deal with tariffs.”

 

Bloomberg

First Brands Group creditors have accused key financier Onset Financial of orchestrating a kickback scheme with the founder’s brother, Edward James, that saddled the now-bankrupt auto parts supplier with ultra-high-cost debt, delivering average internal rates of return over 300%. The alleged scheme involved hundreds of millions in fees and personal investments, with some funds purportedly diverted to founder Patrick James. Onset, which previously lent up to $2.5bn, has recovered $2.9bn and is seeking a further $1.9bn through bankruptcy claims. The creditors’ committee is investigating potential lawsuits against individuals linked to the firm’s collapse.

 

Bloomberg

Wall Street Journal

U.S. services activity slowed in December, with the S&P Global Services PMI falling to 52.5 – its weakest reading since April, but above the 50-mark separating expansion from contraction – as new business inflows and hiring momentum faded. Export demand contracted sharply, and employment growth stalled for the first time in nine months. Rising input costs and tariffs drove the fastest increase in service prices since August, while business confidence softened amid growing concerns over policy, affordability, and economic resilience heading into 2026.

 

Trading View

Accenture has appointed Denise Zheng as AI and Data Lead for its U.S. Products Client Group, where she will oversee artificial intelligence deployment across sectors including life sciences, retail, manufacturing, and aerospace. Zheng previously led AI and data initiatives at Accenture Federal Services, focusing on national priorities. She described the new role as a shift toward commercial applications of AI to drive transformation across global value chains. In other Accenture news, the company is buying AI company Faculty in a deal valuing the U.K. start-up at more than $1bn, as the consulting group attempts to adapt to disruption from AI.

 

EITH	Financial Times

KPMG has named Anna Scally as global head of its technology, media and telecommunications (TMT) practice, succeeding Mark Gibson following his retirement in October. Based in Dublin and a partner at KPMG Ireland, Scally brings over 20 years of senior leadership experience and previously led the firm’s TMT efforts across the U.K., Europe, Middle East, India, and Africa. She will now oversee KPMG’s global strategy to support clients amid rapid technological change.

 

Consultancy

Reuters reports on how a Trump administration-supported lowering of banks' capital requirements is worrying some observers that the U.S. is precipitating a global rowback from rules designed to keep financial systems safer, at precisely the time when concerns about market bubbles and financial stability risks are intensifying. Enrico Perotti, an economist at the University of Amsterdam, says the latent message from the White House is “to get regulators off the backs of banks.”

 

Reuters

Warner Bros Discovery has rejected Paramount’s $108bn hostile bid as “inadequate” despite a personal pledge from Oracle co-founder billionaire Larry Ellison to backstop financing for the takeover. In a letter to shareholders, the WBD board likened Paramount’s proposal to a leveraged buyout, a financial process that relies on using mostly borrowed funds to buy a company. “This aggressive transaction structure poses materially more risk for WBD and its shareholders” than Netflix’s mostly cash offer, the board wrote. Adding to the concerns, the company said, are the risks it would face should any deal with Paramount fall apart. 

 

CNN

Financial Times

New York Times

Reuters

Nvidia has reached a $20bn agreement with Groq, an artificial intelligence chip start-up, securing non-exclusive access to its intellectual property and hiring key employees, including Jonathan Ross, its founder and chief executive. The Times says the deal, termed a "non-exclusive inference technology licensing agreement," means Nvidia has "neutered the competition" while Groq continues to operate independently. Sunny Dhillon, a partner at Kyber Knight Capital, noted that this approach "functions as a de facto acquisition for all stakeholders" but avoids the "regulatory friction" typical of traditional mergers.

 

The Times

President Donald Trump said on Tuesday that he would meet with representatives from every health insurance company soon. "I'm going to meet with them in a few days, I'm meeting with them all: 14 companies," Trump told U.S. House Republicans in Washington. Last month, Trump said he wanted to talk to health insurers about lowering their prices. 

 

Reuters

CV Advisors chief executive officer Elliot Dornbusch has ridiculed the rush to invest in Venezuela after the removal of Nicolas Maduro. Dornbusch - who was raised in Venezuela - said in an interview: “Everybody and their mother is calling their financial adviser, is calling their family office on ‘where do we invest? How do we take advantage of this? You’re from Venezuela, can you look for assets there? . . . I’m like, are you nuts?” He said a "political transition must come first." 

 

Bloomberg

Australia's BlueScope Steel has confirmed a bid worth A$13.2bn ($8.8bn) from a consortium led by SGH Ltd and Steel Dynamics. The offer includes a cash premium over BlueScope's recent stock price and aims to acquire the company’s North American operations while retaining its other global businesses. The proposal is subject to regulatory approvals.

 

Reuters